The Los Angeles Times quoted Partner Ron Friedman, co-leader of the Retail & Consumer Products Practice, in an article about the closing of three California Macy's stores.
Los Angeles Times
By James F. Peltz and Samantha Masunaga
Key to improving Macy’s financial results, analyst Friedman said, would be to reduce its store size to attract millennials, who aren’t as interested in shopping at malls and in large department stores.
“They have to change their business model to be successful,” he said.